**Metaplanet Boosts Bitcoin Holdings, Shares Surge**

Japanese investment firm Metaplanet has ramped up its Bitcoin holdings, purchasing an additional 38.46 BTC for $2.1 million. This brings their total stash to nearly 400 Bitcoin, valued at $23 million. The announcement on September 10 sparked a 5.9% rally in Metaplanet's share price on the Tokyo Stock Exchange.

Despite being down 13.3% on its total Bitcoin investment, Metaplanet's share price has skyrocketed 480% since April, thanks to its aggressive Bitcoin strategy. The firm now holds the 27th-largest Bitcoin stash among global corporations and the third-largest in Asia.

CEO Simon Gerovich sees Bitcoin as a hedge against Japan's debt and yen depreciation, inspired by MicroStrategy's approach. Metaplanet plans to continue expanding its Bitcoin reserves using various capital market instruments.